RareX Reports Substantial Increase in Cummins Range Mineral Resource

THE DRILL SERGEANT: RareX (ASX: REE) has reported an updated Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Cummins Range rare earths-phosphate project in the Kimberley region of Western Australia.

RareX explained the first instalment of the updated Cummins Range MRE is based on the Rare Dyke deposit and contains an Indicated and Inferred Mineral Resource of 397 million tonnes at 0.33 per cent TREO (total rare earths oxide) and 4.2 per cent P2O5 (phosphate) with good quantities of niobium and scandium.

The amount of contained TREO is 1.3 million tonnes with 280,000 tonnes of contained
neodymium praseodymium (NdPr).

This represents an increase of 500 per cent from the previous MRE RareX reported in 2021.

Complementing the increase in TREO is a very large phosphate resource of 16.7 million tonnes of contained P2O5.

The updated Rare Dyke MRE includes 44 million tonnes at 6.3 per cent P2O5 in the higher-confidence Indicated category, which is mostly contained in the upper 100m.

RareX indicated it anticipates a large increase in the phosphate tonnes from the Phos Dyke MRE, which is expected to be completed in late April.

When the Phos Dyke MRE is complete, a global resource containing both the Rare and Phos Dykes will be announced.

“Cummins Range has today been unequivocally confirmed as the second largest undeveloped rare earths deposit in Australia and as a potential long-term source of both rare earths and phosphate for Australia’s critical minerals and agricultural industries,” RareX managing director Jeremy Robinson said in the company’s ASX announcement.

“This is an exceptional result which positions RareX at the forefront of the critical minerals sector in Australia.

“I would like to thank our hard-working geological and project teams for their exceptional efforts over the past few years to get this point.

“The future for RareX is looking very exciting.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE